Pilot Loan - CTC Wings Cadet

Paul_the_Painter

Get a Class 1 Medical before signing ANYTHING. Many outwardly very fit people can fail for a number of reasons, some people for instance have some colour blindness, but never find out until the medical.

Flying schools have the nasty habit of going bust, so make sure you find out in advance what happens if that happens.

Bearing in mind that the loan is a bank base rate plus 2.5% those figures are only going to become more scary if/when the base rate goes up.

If you are set on the idea, try and save as much as possible to reduce the loan amount.

CTC actually have a pretty good reputation for flight training and they are upfront ahout the costs.

http://www.pprune.org/archive/index.php/t-298323.html

http://www.pprune.org/interviews-jobs-sponsorship/94832-ctc-wings-atp-scheme-merged.html

Have a look carefully at the last one, and read EVERY page. Yes it will take you hours, but it full of comments from people in the know. Bottom line is that there are several hundred qualified guys waiting for jobs. Now in 2 years time it might all change, but do go in with your eyes open. And whether or not you get a flying job, the bank will want it's money!

bagand96

I may be wrong, but I seem to recall CTC's partner bank used to be HSBC? Wonder why they have changed to a Spanish bank?

Anyway, as others have said, if you don't know about it already, PPRuNe is the forum for you right now. Read everything and digest it... then read it again. Some of the "cadet" schemes being run by big name airlines recently have been questionable at best, and blatantly exploit aspirational guys and girls who just have a dream.

Loanranger

drew2k9 wrote: »

i have ruled out the RAF route due to the ongoing war at the moment, i would prefer the banks to reposses my house than to be shot down tbh!

and also i dont think going into the RAF with the attitude that it is just me training to become an airline pilot would necessarily be the right way to go about it.

i have done a couple of lessons, and a family friend has agreed to take me up in his plane as much as possible to get a bit of experience.

i was looking into getting my PPL yes, but this particular course doesnt trequire it, and it infact gives you the chance to do it alongside the Commercial Pilot Licence, but advises against it as they say you wouldnt need it at that stage and it would be too much extra work on top of what i would already be doing.

i realise how big a choice this is, but we all have to make big choices at one time or another.

yes i have been on pprune a few times looking about and seeing peoples opinions of the course, but theres a lot of pointless and unhelpful conversations on it rather than info, but i am going to sign up to it and try to get some actual info from people who have done the course or similar.

but thanks, the main question i needed answered here was about the bank, so it is a reputable one?

oh and yes i will be up to standards for the medical, i am a committed rugby player at the moment (but willing to give it up to undertake this training) and do a good bit of gym work, along with perfect eyesight etc, cant see what would go against me in that, very very rarely ill, and no family heart defects and all that jazz.

What about academically fit?
What are your qualifications? Any science subjects?

Errata

the main question i needed answered here was about the bank, so it is a reputable one?

I'm struggling to understand why you don't know yourself; you used to work for a bank.

[Deleted User]

drew2k9 wrote: »

i have ruled out the RAF route due to the ongoing war at the moment, i would prefer the banks to reposses my house than to be shot down tbh!

and also i dont think going into the RAF with the attitude that it is just me training to become an airline pilot would necessarily be the right way to go about it.

i have done a couple of lessons, and a family friend has agreed to take me up in his plane as much as possible to get a bit of experience.

i was looking into getting my PPL yes, but this particular course doesnt trequire it, and it infact gives you the chance to do it alongside the Commercial Pilot Licence, but advises against it as they say you wouldnt need it at that stage and it would be too much extra work on top of what i would already be doing.

i realise how big a choice this is, but we all have to make big choices at one time or another.

yes i have been on pprune a few times looking about and seeing peoples opinions of the course, but theres a lot of pointless and unhelpful conversations on it rather than info, but i am going to sign up to it and try to get some actual info from people who have done the course or similar.

but thanks, the main question i needed answered here was about the bank, so it is a reputable one?

oh and yes i will be up to standards for the medical, i am a committed rugby player at the moment (but willing to give it up to undertake this training) and do a good bit of gym work, along with perfect eyesight etc, cant see what would go against me in that, very very rarely ill, and no family heart defects and all that jazz.

the number of RAF pilots killed in afghanistan is a tiny % of those scammed by training programs that require your parents house as security for a job that may or may not materalise,if i were you i would start with the fact that most if not all airlines worldwide are cutting back on the number of pilots they employ and work backwards from that.
atm you seem to be assuming that you will get a job out of this,all i can see you getting is 80k`s worth of debt secured on your parents HOME

Dellers

My husband is a Cpt. If its what you want go for it but its hard work good luck

drew2k9

hey trying to remember a few posts at once here to answer so stick with it...

firstly ive been tested for colour blindness and dont have it (my dad is colour blind so thats why, but he is also a very successful graphic designer/illustrator/artist, i know, baffles me too!!)

as for academically fit, i have 11 gcses at c or higher, but mostly a's and b's i also ave three a-levels at c grade, and a c in as-level french, have some outside qualifications too, such as an ocn level 3 in conflict resolution studies, and a random government backed administrative thing, and am currently doing my first set of insurance exams along with an NVQ in Financial Services, i turned down the opportunity to go to stranmillis to become a teacher (which i got through my interview skills and lots of relevant extra cirricular activities), they were happy to offer me a BBC course with CCC) when i left school as at the time my dad was made redundant so i needed to bring in some money, but now he is successfully self employed! so i think academically i would be fine with it, i am a lot more focused than i used to be, i was always very smart but in school very lazy! not the case now!

as for working in a bank... being realistic, it was for one month, and i ended up in it as my very first job out of school, i knew a good bit about it as i had to for the job, but as for other banks, i rarely had any dealings with them (except to ocassionally verify some big cheques)

the CTC scheme has a 40,000 guarantee thing in the event of not being able to complete the course for various reasons (death included) and also the loan through the BBVA bank says it has life insurance included at no extra cost, presumably due to the nature of the huge loan and the fact that it is mostly secured by houses not owned by the applicants.

BBVA bank seem to be linked to a number of different pilot cadet schemes, so i assume they almost specialise in this type of loan? maybe why HSBC no longer invloved?

RAF, yes i love the idea of it, and even the army Air Corps, infact i did my weeks work experience with the RIR as at the time when i was younger that was what i wanted to do, but in older age, relationships have caused me to reconsider, also i dont disagree with war as a principle, but i cant see myself ever shooting anyone, its not in my nature to take someones life even if it is for the benefit of others (but if you ever go paintballing with me i will paint you from head to toe without a problem!!!)

i do realise the gravity of all the risks associated with becoming a pilot, or even just trying to become one and maybe never getting there, but it is something i know i have to do, the only things i need to weigh up in my head now are the possibilities of causing my loved ones more grief than is necessary.

also has anyone heard of FTE Jerez? it seems to be a similar scheme? but i dont know if it is running any programmes anytime soon? or has anyone dealt with Oxford?

Loanranger

Are your A levels in maths and physics?
What are your GCSE grades in maths and physics?
You haven't stated what subjects so am assuming that they're not in maths and science.

If your A levels are not in science and or maths then you will struggle to complete the course.

Ambition is great and to be encouraged but has to be tempered with a reality check particularly when £80K fee is secured against your parents' home.
Why not apply to the RAF for pilot training and if you are accepted then you have your answer.


Read this from Prospects
pilot entry qualifications

I'm a careers adviser.

Clive_Woody

Looking at the repayment schedule, from month 43 onwards (for the next 6 years +) you would be paying back over a £1000/month at current base rate - which is only going to go up.

I have no idea what a commercial pilot earns, but to cover a reasonable living (mortgage/rent, car, council tax, eating, drinking, mobile, internet, etc...) as well as loan repayments it would have to be a pretty generous salalry.

Also with the current state of finances in Spain I would think very carefully about taking out a loan with a Spanish bank (repayable on demand).

drew2k9

i did gcse maths and additional maths, got a b and c respectively and got a b at gcse physics, but like i said, i had the knowledge to do a lot better in both subjects, but at the time lacked any forward vision, and concentrated on what i enjoyed at that time, which was PE - A* and French - A and Biology - A

my A-Levels all at grade C were PE, RE and Biology, but again i didnt work at all in 6th form! regret it a bit now, but at the same time, the courses i have been looking at only require gcse's and the completion of some aptitude tests, did some example questions online of such tests and got full marks on some and near full marks on others.